HACKING… Web Summit Rio 2024

The 2nd Brazilian edition of Web Summit took place from April 15th to 18th at Riocentro, in the west zone of Rio de Janeiro. This time, one of the world’s largest technology and innovation events brought together nearly 35,000 participants per day, about 600 lectures, and 700 investors. It addressed topics on sustainability, creative economy, use of energy matrices, cryptocurrencies, and, of course, artificial intelligence.

Speaking of AI, it sets the tone for discussions in many lectures and continues shaping the industry on various fronts, from entertainment to event logistics. However, for the speakers, the essence of all this innovation lies in improving human interaction and fostering creative and inclusive environments. Technology emerges as a partner in the operational journey of institutions around the planet. Are we sufficiently prepared to absorb all of this? That’s the lingering question.

The event organization, led by Irish and Portuguese, also provided considerable space for discussions on ESG practices (environmental, social, and governance). This resulted in a meeting with record female participation: 45% leading startups, 47.5% female participants, and 39% speakers.

In addition to the over 1000 startups from 42 different countries, the financial sector reaffirmed its current strong link to technology. Proof of this is the participation of executives from prominent financial institutions on the Brazilian national scene, such as Itaú, Bradesco, and Nubank.

Want to know how the four days of Web Summit Rio 2024 went? Read below and access our social networks to check out the special coverage that Grupo RPMA prepared for you!

TECHNOLOGY | From marketing to healthcare, AI takes center stage

If, in the 2023 edition of Web Summit, the moment’s theme was Web3 and the “tokenization” of everything, 2024 was the year of artificial intelligence. In the view of the experts present, it will be the framework for all solutions in a not-so-distant future.

The event gave such importance to the subject that a special AI track was set up: the AI Academy, a space exclusively dedicated to discussing the topic. The idea was to present information that goes beyond the limits of AI, from neural networks to algorithmic bias, passing through data ethics.

From marketing to healthcare, the rise of AI as a central element in various spheres was highlighted. The application of AI aims to optimize processes and free up professionals for more creative activities, as emphasized by WMcCANN’s CEO, Renata Bokel. Industry leaders, such as Nvidia’s Executive Director of Corporate Sales for Latin America, Márcio Aguiar, envision Brazil as a powerhouse in this technology, driving regional partnerships and investments.

Startups presented various technological innovations, including a robot dog from Pluginbot and AI systems applied in healthcare services and monitoring. Companies like Nubank are becoming “AI-first”, recognizing the central role of AI in their operations and planning to integrate AI-based “co-pilots” across all departments.

Web Summit Rio 2024 highlighted the growing importance of AI as the foundation for future solutions, although it also raised questions about the risks associated with this constantly evolving technology. Thus, it is clear that AI is consolidating itself as a fundamental pillar of the future, permeating various sectors and driving innovation.

MARKETING | Recipe for success: innovation, personalization, and understanding

TikTok was central to discussions as an entertainment platform influencing culture and consumption. Examples of products and artists that went viral demonstrated how TikTok is revolutionizing how businesses are conducted.

Trends and insights on marketing and content were abundant with the Content Makers and PandaConf tracks, which highlighted the need to combine technology, humanization, and personalization of interactions for companies to remain competitive in the current landscape.

Proof of this is the success in the content creator career exemplified by KondZilla, which highlighted the importance of not only having talent but also working with a solid business structure to monetize content.

Moreover, humanization in the B2B context was discussed, highlighting that deeply understanding both clients and teams is fundamental for the success of Account-Based Marketing (ABM).

DIVERSITY | Female power takes the stage

The 2024 edition also presented a significant milestone with a historic record in the field of gender equity: 45% of the startups present at the event were founded by women, a notable increase from the previous year’s 21%.

Throughout the journey, the importance of diversity in the investment ecosystem was emphasized, highlighting the obstacles faced by female entrepreneurs, such as the need for more understanding from male investors.

Sororitê, for example, invests in startups led by women, pointing to the need for more female support in the Venture Capital sector. Significant female representation was also observed as a reflection of the event’s effort to promote diversity, with dedicated committees since 2015. The variety of startups led by women, including sectors such as fintechs, health techs, and even bee techs, reflected the inclusive vision of Web Summit as a bridge connecting various fields through technology.

BUSINESS | Brazilian Entrepreneurship

Bringing together more than 1,000 startups in search of business opportunities, innovative ideas were abundant, such as Engenho Café Açaí’s coffee made from açaí seeds, which came straight from Amapá. This showcased creative solutions to environmental and even social challenges. The fintech sector also stood out with the announcement of CloudWalk, which aims to bring Pix technology to the United States, leveraging Brazilian expertise in instant payments.

The pitch competition also stood out with the Rio de Janeiro-based startup Deco.cx, founded by former executives of VTEX, aiming to simplify the creation of e-commerce platforms. Additionally, the investment and partnership landscape in the startup ecosystem proved to be dynamic and full of opportunities.

The following startups stood out with significant values: the Chilean startup Toku, which received $9.3 million to expand operations in Brazil; Turbi, a car rental service, with R$45.5 million to invest in technology and fleet expansion; and Brand Lovers, which received R$35 million to expand its services. Finally, BNDES approved a financing of R$84.6 million for Tembici to invest in innovation and sustainable mobility.

SOCIETY | What do culture, philosophy, and technology have in common?

Deep reflections on society and the moment we live in were included in Web Summit 2024. Philosopher Mario Sergio Cortella highlighted the importance of decency when incorporating technology into daily practice and emphasized the need to maintain humanity in the face of machine advancement. “AI is a powerful resource, but we cannot confuse automation, which provides time for me, with autonomy. The important thing is to have without being had by what you have,” he said.

A special panel on corporate innovation featured the discussion on “policrises” with Paula Englert, CEO of Box1824, and Pedro Tourinho, Secretary of Culture and Tourism for the Salvador City Hall. The talk raised Brazilians’ ability to deal with obstacles and adapt to a volatile world, highlighting agility and optimism as “superpowers” to face challenges.

A prominent national figure, Gilberto Gil, emphasized the connection between technology and culture, speaking about the opportunity Brazil has to use new tools to promote our identity to the world. Gil also expressed gratitude for experiencing the benefits of the current technological era.

SUSTAINABILITY | Green technology, data centers, and biomarketing

The Planet:tech track appeared on the last day of the event, offering a meeting point for topics related to green technology and the environment. During the discussions, economic and social opportunities arising from these areas were presented to participants.

Significant reflections on sustainability and environmental impact, especially in the context of data centers, were brought up. With the projected growth of these locations, energy demand is a growing concern.

Companies like Google, Amazon, and Microsoft seek to develop internal components, but energy scarcity can be an obstacle. Microsoft, for example, hired a “Nuclear Development Acceleration Director” to explore sustainable alternatives.

Do you know what biomarketing is? We also had the launch of the social network, Plantah, which proposes a green revolution by connecting users, companies, and NGOs. The concept of biomarketing transforms advertising budgets into direct investments in sustainability.

Renata Bokel, CEO of WMcCann:

“I don’t think we should be afraid of AI because our role is to be creative. So, I believe that our jobs will be easier, more efficient, and less tedious because what is repetitive can be done by a machine.”

Mari Maria, CEO & Influencer Mari Maria Makeup:

“The key to my success was the courage to show myself authentically, which is extremely valuable in an era where consumers highly value transparency and authenticity.”

Vasco Pedro, Co-founder of Unbabel:

“I like to think of AI as a superhuman that processes all this data in record time and makes decisions. Therefore, AI helps us sift through all of this and suggests areas where we can improve. Thus, the result can be the more efficient use of our products, delivering more results. Customers get more with less effort.”

Erica Fridman, General Partner at Sororitê Ventures:

“The VC (Venture Capital) industry is focused and led by men. We exist to change that. Sororitê is a group of women and investors who invest in startups led by women, and we need more women to support others.”

Mario Sergio Cortella, Professor and Philosopher:

“We have had AI in our daily lives for a long time, but it didn’t have this capability like it does now. Technology is decisive; it has altered our way of being present and alerts us. Don’t be possessed by what you own, as Millôr Fernandes says. Without catastrophism, but without triumphalism.”

Fernanda Nascimento, founder & CEO of Stratlab Digital Intelligence:

“Consumers are constantly changing behavior, influenced by market dynamism. As marketing professionals, we need to adjust our strategies continuously. Having a comprehensive vision and thinking strategically is crucial to achieving success and helping our clients navigate this vast and complex marketing landscape.”

Gabriela Comazzetto, Head of Global Business Solutions at TikTok:

“It’s not just about selling or entertaining; it’s about selling through entertainment. So the brands today that are having all this success have understood how to make this communication and deeply engage with the community and, consequently, are selling more and more.”

Luiza Trajano, President of Magazine Luiza:

“The physical [store] won’t disappear, but the service has to change. Regarding employment, when we no longer have cashiers at Magazine Luiza, does that mean the end of jobs? On the other hand, we have stockers, who deliver products, and [the worker] changes places.”